Detailed Single Year Tables
Description of Proposed Provision:
B1.6 (2030): Progressive price indexing (30th percentile) of PIA factors beginning with individuals newly eligible for OASI benefits in 2030: Create a new bend point at the 30th percentile of the AIME distribution of newly retired workers. Maintain current-law benefits for earners at the 30th percentile and below. Reduce the 32 and 15 percent factors above the 30th percentile such that the initial benefit for a worker with AIME equal to the taxable maximum grows by inflation rather than the growth in the SSA average wage index. Disabled workers are: (a) not affected prior to normal retirement age; and (b) subject to a proportional reduction in benefits, based on the worker's years of disability, upon conversion to retired-worker beneficiary status.
Financial Estimates for the OASDI Trust Fund Program
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
|
Expressed as a percentage of current-law taxable payroll |
Trust fund ratio as of January 1 |
Expressed as a percentage of current-law taxable payroll |
|||||||
|
Calendar year |
Cost rate |
Income rate |
Annual balance |
Cost rate |
Income rate |
Annual balance |
|||
| 2021 | 14.11 | 12.31 | -1.81 | 253 | 0.00 | 0.00 | 0.00 | ||
| 2022 | 14.30 | 12.93 | -1.38 | 231 | 0.00 | 0.00 | 0.00 | ||
| 2023 | 14.43 | 12.91 | -1.52 | 214 | 0.00 | 0.00 | 0.00 | ||
| 2024 | 14.64 | 12.94 | -1.69 | 196 | 0.00 | 0.00 | 0.00 | ||
| 2025 | 14.86 | 12.96 | -1.90 | 178 | 0.00 | 0.00 | 0.00 | ||
| 2026 | 15.10 | 13.08 | -2.03 | 159 | 0.00 | 0.00 | 0.00 | ||
| 2027 | 15.36 | 13.10 | -2.26 | 141 | 0.00 | 0.00 | 0.00 | ||
| 2028 | 15.62 | 13.14 | -2.49 | 122 | 0.00 | 0.00 | 0.00 | ||
| 2029 | 15.87 | 13.17 | -2.70 | 104 | 0.00 | 0.00 | 0.00 | ||
| 2030 | 16.11 | 13.19 | -2.92 | 85 | -0.00 | -0.00 | 0.00 | ||
| 2031 | 16.28 | 13.21 | -3.08 | 66 | -0.00 | -0.00 | 0.00 | ||
| 2032 | 16.43 | 13.22 | -3.21 | 46 | -0.00 | -0.00 | 0.00 | ||
| 2033 | 16.55 | 13.23 | -3.32 | 27 | -0.01 | -0.00 | 0.01 | ||
| 2034 | 16.65 | 13.24 | -3.41 | 7 | -0.01 | -0.00 | 0.01 | ||
| 2035 | 16.72 | 13.24 | -3.48 | ---- | -0.02 | -0.00 | 0.02 | ||
| 2036 | 16.77 | 13.25 | -3.53 | ---- | -0.03 | -0.00 | 0.03 | ||
| 2037 | 16.82 | 13.25 | -3.57 | ---- | -0.04 | -0.00 | 0.04 | ||
| 2038 | 16.85 | 13.26 | -3.60 | ---- | -0.06 | -0.00 | 0.06 | ||
| 2039 | 16.87 | 13.26 | -3.61 | ---- | -0.08 | -0.00 | 0.08 | ||
| 2040 | 16.87 | 13.26 | -3.61 | ---- | -0.11 | -0.01 | 0.10 | ||
| 2041 | 16.88 | 13.27 | -3.61 | ---- | -0.14 | -0.01 | 0.13 | ||
| 2042 | 16.86 | 13.27 | -3.60 | ---- | -0.18 | -0.01 | 0.17 | ||
| 2043 | 16.83 | 13.26 | -3.56 | ---- | -0.22 | -0.01 | 0.20 | ||
| 2044 | 16.79 | 13.26 | -3.52 | ---- | -0.26 | -0.01 | 0.24 | ||
| 2045 | 16.74 | 13.26 | -3.48 | ---- | -0.31 | -0.02 | 0.29 | ||
| 2046 | 16.70 | 13.26 | -3.44 | ---- | -0.36 | -0.02 | 0.34 | ||
| 2047 | 16.66 | 13.26 | -3.40 | ---- | -0.41 | -0.02 | 0.39 | ||
| 2048 | 16.63 | 13.26 | -3.37 | ---- | -0.47 | -0.03 | 0.44 | ||
| 2049 | 16.58 | 13.26 | -3.32 | ---- | -0.53 | -0.03 | 0.50 | ||
| 2050 | 16.54 | 13.26 | -3.28 | ---- | -0.60 | -0.03 | 0.57 | ||
| 2051 | 16.49 | 13.25 | -3.24 | ---- | -0.67 | -0.04 | 0.63 | ||
| 2052 | 16.45 | 13.25 | -3.20 | ---- | -0.74 | -0.04 | 0.70 | ||
| 2053 | 16.41 | 13.25 | -3.16 | ---- | -0.81 | -0.05 | 0.76 | ||
| 2054 | 16.37 | 13.25 | -3.12 | ---- | -0.89 | -0.05 | 0.84 | ||
| 2055 | 16.33 | 13.25 | -3.08 | ---- | -0.96 | -0.06 | 0.91 | ||
| 2056 | 16.29 | 13.25 | -3.05 | ---- | -1.04 | -0.06 | 0.98 | ||
| 2057 | 16.26 | 13.25 | -3.01 | ---- | -1.12 | -0.07 | 1.06 | ||
| 2058 | 16.23 | 13.25 | -2.98 | ---- | -1.21 | -0.07 | 1.14 | ||
| 2059 | 16.20 | 13.25 | -2.95 | ---- | -1.29 | -0.08 | 1.21 | ||
| 2060 | 16.17 | 13.25 | -2.93 | ---- | -1.37 | -0.08 | 1.29 | ||
| 2061 | 16.15 | 13.25 | -2.90 | ---- | -1.45 | -0.09 | 1.37 | ||
| 2062 | 16.11 | 13.25 | -2.87 | ---- | -1.54 | -0.09 | 1.45 | ||
| 2063 | 16.08 | 13.25 | -2.84 | ---- | -1.62 | -0.10 | 1.52 | ||
| 2064 | 16.05 | 13.24 | -2.81 | ---- | -1.70 | -0.10 | 1.60 | ||
| 2065 | 16.02 | 13.24 | -2.78 | ---- | -1.78 | -0.11 | 1.68 | ||
| 2066 | 15.99 | 13.24 | -2.75 | ---- | -1.86 | -0.11 | 1.75 | ||
| 2067 | 15.96 | 13.24 | -2.72 | ---- | -1.95 | -0.12 | 1.83 | ||
| 2068 | 15.93 | 13.24 | -2.69 | ---- | -2.03 | -0.12 | 1.91 | ||
| 2069 | 15.90 | 13.24 | -2.66 | ---- | -2.11 | -0.13 | 1.98 | ||
| 2070 | 15.88 | 13.24 | -2.64 | ---- | -2.19 | -0.13 | 2.06 | ||
| 2071 | 15.85 | 13.24 | -2.61 | ---- | -2.27 | -0.13 | 2.14 | ||
| 2072 | 15.82 | 13.24 | -2.59 | ---- | -2.35 | -0.14 | 2.21 | ||
| 2073 | 15.79 | 13.24 | -2.56 | ---- | -2.43 | -0.14 | 2.29 | ||
| 2074 | 15.76 | 13.24 | -2.52 | ---- | -2.51 | -0.15 | 2.36 | ||
| 2075 | 15.72 | 13.23 | -2.49 | ---- | -2.59 | -0.15 | 2.44 | ||
| 2076 | 15.68 | 13.23 | -2.44 | ---- | -2.67 | -0.16 | 2.51 | ||
| 2077 | 15.62 | 13.23 | -2.39 | ---- | -2.75 | -0.16 | 2.58 | ||
| 2078 | 15.56 | 13.23 | -2.33 | ---- | -2.82 | -0.17 | 2.65 | ||
| 2079 | 15.48 | 13.22 | -2.26 | ---- | -2.89 | -0.17 | 2.71 | ||
| 2080 | 15.40 | 13.22 | -2.18 | ---- | -2.95 | -0.18 | 2.78 | ||
| 2081 | 15.31 | 13.21 | -2.10 | ---- | -3.02 | -0.18 | 2.84 | ||
| 2082 | 15.22 | 13.21 | -2.01 | ---- | -3.08 | -0.18 | 2.89 | ||
| 2083 | 15.12 | 13.20 | -1.91 | ---- | -3.13 | -0.19 | 2.95 | ||
| 2084 | 15.01 | 13.20 | -1.81 | ---- | -3.19 | -0.19 | 3.00 | ||
| 2085 | 14.90 | 13.19 | -1.71 | ---- | -3.24 | -0.19 | 3.05 | ||
| 2086 | 14.79 | 13.18 | -1.60 | ---- | -3.29 | -0.20 | 3.09 | ||
| 2087 | 14.67 | 13.18 | -1.49 | ---- | -3.34 | -0.20 | 3.14 | ||
| 2088 | 14.55 | 13.17 | -1.39 | ---- | -3.38 | -0.20 | 3.18 | ||
| 2089 | 14.44 | 13.16 | -1.28 | ---- | -3.43 | -0.21 | 3.22 | ||
| 2090 | 14.34 | 13.16 | -1.19 | ---- | -3.47 | -0.21 | 3.26 | ||
| 2091 | 14.25 | 13.15 | -1.10 | ---- | -3.52 | -0.21 | 3.31 | ||
| 2092 | 14.16 | 13.15 | -1.02 | ---- | -3.57 | -0.21 | 3.36 | ||
| 2093 | 14.09 | 13.14 | -0.95 | ---- | -3.63 | -0.22 | 3.41 | ||
| 2094 | 14.02 | 13.14 | -0.88 | ---- | -3.68 | -0.22 | 3.46 | ||
| 2095 | 13.96 | 13.13 | -0.83 | ---- | -3.74 | -0.22 | 3.51 | ||
| 2096 | 13.91 | 13.13 | -0.78 | ---- | -3.80 | -0.23 | 3.57 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2021-2095 | 16.00% | 13.70% | -2.30% | 2034 | -1.31% | -0.08% | 1.23% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2034. |
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Based on Intermediate Assumptions of the 2021 Trustees Report.